Full Year 2025 MyState Ltd Earnings Call Transcript
Key Points
- The transformational merger with Auswide has been successful, achieving annualized synergies of $8.4 million within four months.
- Loan book growth has been strong, with a 7.5% annualized increase post-merger.
- Underlying NPAT increased by 17% to $41.3 million, demonstrating strong financial performance.
- The company declared a final dividend of $0.11 per share, contributing to a full-year dividend of $0.215 per share.
- Selfco, the equipment finance business, experienced significant growth with a 43% increase in its loan book within four months.
- Total operating expenses increased by 25.7%, primarily due to the inclusion of Auswide.
- Net interest margin remains under pressure due to home loan and deposit price competition.
- Wealth management income fell due to non-recurring commissions from large estate values in the previous year.
- The anticipated synergies for FY26 are relatively low compared to the initial $8.4 million run rate, indicating slower synergy realization.
- The cost growth for the new combined group is expected to be around 5% per annum, which may offset some of the synergy benefits.
Thank you for standing by, and welcome to the MyState Limited FY25 results conference call. (Operator Instructions)
I would now like to hand the conference over to Mr. Brett Morgan, Managing Director and Chief Executive Officer. Please go ahead.
Thanks, Darcy, and good afternoon, and thanks for joining us today for our FY25 results briefing. I'm Brett Morgan, MyState's Managing Director and CEO; and with me is Gary Dickson, our CFO.
Turning to slide 2. Earlier today, we launched our FY25 financial results with the ASX and then these are also available on our website. With respect to today's agenda, I will begin with an overview of the full-year result before Gary takes you through the financials in more detail. I will then end the presentation with a summary of our key business priorities before Gary and I welcome questions.
Moving to slide 4. FY25 is a landmark year for MyState. Our transformational merger with Auswide completed in February
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
